Discounts For Student Car Insurance

Age is one of the many factors that can affect your car insurance rates. Unfortunately, the younger you are, the higher risk you pose to get into an accident. Therefore, students and other young drivers pay a higher auto insurance premium than do other drivers. Especially with the high cost of an education and hard economic times that make it hard for young people to find jobs, finding cheap but quality insurance can be a difficult task.

While an auto insurance company may not offer a specific student rate or a special type of young driver insurance, many companies do offer significant discounts for good students. Statistically, students who perform well in school get involved in fewer accidents than those who do not, and therefore are seen as lower-risk to an auto insurance company. Therefore, students may be able to save money on car insurance by keeping their grades up.

Who qualifies as a high-performing student? Criteria that an insurance company may use to determine discounts could include:

A full-time college or university student under the age of 25 who maintains a B average, or otherwise qualifies as a good student.
A full-time student enrolled in high school or a certificate degree program who maintains a B average in a program that designates letter grades.
A student with at least a 3.0 grade point average on a 4.0 scale.
A student who is ranked in the top 20% of his or her graduating class.
A student who is included in the school’s Dean’s list, honor roll, or comparable group with the purpose of commending academic achievement.

Particular insurance companies may vary in the criteria they use to determine discounts, if they offer discounts for students at all. For example, some auto insurance companies may only offer discounts to college or university students and may not offer discounts to high school students. Other policies may only offer discounts if the participant is over the age of 21. If you are a student searching for inexpensive car insurance, your best bet is to collect quotes from multiple companies, compare their premiums, and choose the one that offers you the best deal.

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